Whish Money Secures Canadian Licenses, Anchors Global Expansion

Lebanese fintech Whish Money has obtained financial services licenses in Canada, marking its first major regulatory approval outside the MENA region and the start of its planned global expansion. The company is also pursuing licenses in other key markets, including the United States, United Kingdom, European Union, and Australia.

Unlike many peers that rely on third-party partnerships or limited money transfer agent models, Whish Money is taking a direct, in-country licensing approach. This involves establishing locally incorporated entities and operating fully within national regulatory frameworks, aiming to build a robust and regulated presence in key diaspora markets.

According to the company, this model ensures full control over the customer experience while maximizing compliance, security, and transparency in every market. The Canadian licenses lay the groundwork for Whish Money’s North American operations and broader international strategy.

“Securing our Canadian license is a monumental step that validates our compliant, customer-focused model and sets the foundation for our international expansion,” said Toufic Koussa, chairman of Whish Money. “This is about strategically connecting high-diaspora communities with reliable financial infrastructure, beginning with North America. We are committed to building a regulated, transparent global ecosystem that truly serves our users.”

Headquartered in Beirut and regulated by Lebanon’s Central Bank, Whish Money gained prominence during the country’s economic crisis by offering essential digital financial services. The company now serves over 1.5 million users, providing alternatives for payroll, money transfers, and bill payments when traditional channels were constrained.

Whish Money’s global expansion is further supported by partnerships with major players such as Visa, Mastercard, Ria, and Terrapay, strengthening its secure cross-border payment infrastructure. Through its regulated, in-market approach, Whish Money aims to evolve from a regional payment provider into a comprehensive global financial ecosystem, connecting communities across borders with trust and transparency.